Blockchain transactions are publicly visible, and in spite of pseudo-anonymity, these transactions can be traced on Ethereum and Bitcoin. With the help of cryptographic techniques, we have built chains that can preserve transaction privacy, making it untraceable.
Blockchain’s security, decentralisation and scalability trilemma is well known. Based on our experience, layer 2 techniques such as sidechains, state channels and payment channels prove to be a good compromise between scale and decentralisation.
Smart Contracts and DApps
Decentralised apps may not be the present but indeed, are the future. Starting with a decentralised app does not always work as it needs a community to support it. We address this by building a private chain, to begin with, and move it to a public chain once the community is built.
Asset Tokenization & Stablecoins
Although cryptocurrencies are promising, they suffer from risks of high volatility in valuation. Fiat backed stablecoins are gaining traction as they minimise the risks. However, Stablecoins come with implementation challenges of integration with banks, transactions atomicity etc. We engage in building end-to-end blockchain solutions that address these complexities.
Acceptable Privacy for XAND Blockchain (presented at IEEE Conference)
The privacy of transactions comes at the cost of the transactions not being visible at all to any regulatory bodies. This paper aims to resolve this problem by allowing some authorized participants to view the transactions, while at the same time maintaining the privacy of the transactions from other regular users, including the validators.
Patient Privacy and Ownership of Electronic Health Records on a Blockchain (published on Springer)
In this paper, we discuss a solution that enables patient-driven interoperability of medical records on a public blockchain while maintaining privacy using new cryptographic constructs and truly giving up control to the general public.
Should a blockchain node save all the transaction logs?
In this blog, we argue that there is no point of storing the entire transaction log from the genesis in each validating node of a blockchain. We discuss on the following points – 1. Is it necessary to store the entire transaction log to validate transactions? 2. Is it more secure to store the transaction log than not storing it? 3. Is it possible to incentivize the validator nodes to store the log?
Debasish Ray ChawdhuriBlockchain Expert
- Distributed Computing
What is Blockchain?
Blockchain can be explained as a shared, immutable ledger that enables recording of transactions and tracking of assets in a business network. In layman’s language, blockchain is a decentralized digital ledger that helps in saving transactions on various computers across the globe.
Check our article on blockchain framework and transaction structure.
What are the benefits of Blockchain?
Some of the top benefits of blockchain are:
- Facilitates trust between the parties and eliminates intermediaries.
- Enables real-time data sharing.
- Creates an inalterable record of transactions with proof.
- Creates efficiencies in processing transactions.
Read our success story on implementing blockchain technology in a banking service platform to make the product future ready.
What are the use cases of Blockchain?
- Smart Contracts: These are blockchain-based contracts that are enforced in real-time. Created as an agreement between two or more parties that do not involve any intermediary.
- NFT: It is a digital token that described the ownership of a unique digital or some physical item. Creation of NFT is powered by a smart contract which is stored on a blockchain.
- Logistics: With blockchain, data sources are acknowledged and processes automated, thus enabling greater trust and high transparency within the logistics industry.
- Cryptos: Digital assets that enables secure trading and ownership. They are used as a substitute for fiat currencies, makes buying and selling assets cost-effective, transparent, and quick.
Know more in detail about blockchain’s use cases industry wise in our article.
Which platform is best for Blockchain development?
For blockchain development, leveraging a blockchain platform varies on your product’s requirements. Hence, it is crucial to know about the top blockchain platforms.
- Ethereum: Known for its scalability and affordability. Allows rapid deployment that saves a lot of time, has a decentralized architecture. Mostly preferred by all enterprises.
- Corda: Has superior security features, ideal for finance industry. Popular amongst insurance, healthcare, capital markets, and government sectors.
- Hyperledger Fabric: It is a framework for permissioned networks and used to develop solutions with a modular architecture. It is highly useful for Fintech and healthcare businesses to restrict access to sensitive data
- Tron: It is the world’s fastest-growing blockchain. Highly beneficial for content creators. Offers high scalability and multi-language extension functionality.
- Stellar: It is a decentralized and open database platform. Ideal for companies that involve in international trade due to its high transaction speed and minimal charges.
Read in detail our article on top blockchain technologies for better insights
What are steps included in Blockchain development process?
Understand the blockchain development process that consists of the following steps:
- Identify problems that you want to solve with Blockchain
- Select the right blockchain platform and right framework
- Assess the governance and privacy issues
- Draft the business requirements and brainstorm ideas
- Do a proof-of-concept
- Assess smart contract security
- Create the visual and technical designs
Check our blog that covers everything that you should be aware of while successfully implementing blockchain.
What a Blockchain development team looks like?
For your blockchain development related requirements, you would require a dedicated team of blockchain architects, tech managers, blockchain developers, project managers, QA engineers, and UI/UX team.
How long does it take for a Blockchain development company to develop the solution?
To launch a basic blockchain solution, it can take around 2-6 months. This time frame can vary depending on the complexity of your product’s requirements and availability of team of blockchain expert.
What are smart contracts? How to start with smart contract Blockchain development?
Smart contracts are like simple programs that are self-executing contracts stored on a Blockchain. In smart contracts, the contents of the buyer-seller agreement are inscribed directly within the lines of code. It is used to:
- Automate an agreement and workflow execution.
- Trigger the action.
- Make transactions traceable, transparent, and irreversible.
Read our blog explaining different types of attacks that can happen on a smart contract and which tool you can use to conduct static analysis of smart contracts.
What are NFTs? How do I start with NFT Blockchain development?
NFT stands for non-fungible token, representing a digital asset that stands for real-world objects like art, music, in-game items and videos. They can be bought or sold online, usually with cryptocurrency or fiat currencies.
Check out our blog explaining the use case of NFTs in car rentals.
What are Cryptos? How to start with Crypto Blockchain development?
Crypto is a form of currency that exists digitally or virtually and is created using computer networking software. With Cryptos, you can transfer value online, thus eliminating the need of a middleman like bank. You can transfer values globally, instantly, and 24/7 for less amount.
Check crypto blockchain development blog to understand in detail about to get started with cryptography. Also, if you are interested in knowing about crypto wallets, check our article on things to know before selecting a crypto wallet.